Sir,
How to pass entry for transferring stocks from a deceased person's company to the deceased sons company
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Closing stock transfer
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Transferring stock from a deceased person’s business requires legal verification of ownership transfer. Account for the removal of stock from the deceased's books (debiting the capital account) and the addition to the son's company books (crediting capital or income). Consult a tax professional to address specific GST and inheritance tax obligations before finalizing entries.
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